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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Asiamet Resources Ltd - Indonesia-focussed copper and gold miner - Says it has received notice purported to be from largest shareholder, Aeternum Energy, requisitioning a special general meeting. "The notice that has been received is not in a valid form and therefore directors are not required to act on it now, however it is apparent that our largest shareholder is seeking to take control of the company without fair and reasonable process or acquisition," Asiamet adds. "This action immediately follows PT WIN, an Indonesian company owned by Aeturnum Energy, materially breaching the terms of a binding sale and purchase agreement with Asiamet for the acquisition of the company's KSK contract of work in Indonesia." Asiamet says seeking "necessary advice", tells shareholders to take no action.
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Hardide PLC - Oxfordshire-based advanced surface coating technology - Raises GBP790,000 in fundraising which comprises of 614,886 placing shares and 1.9 million subscription shares, at 30.9 pence each. Also expects to shortly receive GBP250,000 loan from UK Coronavirus Business Interruption Loan Scheme.
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Osirium Technologies PLC - Berkshire-based cybersecurity firm - Granted new patent in authentication services space by US Patent & Trade Mark Office. "The patent (United States Patent number: 10,826,887), approved in November 2020, is for Osirium's 'shadow authentication' technology. This new technology uniquely addresses a challenge experienced by managed security service providers in situations where they are not permitted direct access to their customers' Active Directory servers," Osirium adds.
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Frontier IP Group PLC - intellectual property commercialisation firm - Supports research conducted in Lisbon on technology which aims to remove cause of cork taint in wine from natural corks. Cork taint often causes undesirable taste and smell in bottled wine. "Frontier IP supported the Centro de Fisica e Investigacao Tecnologica research unit of FCT NOVA in engaging with Amorim to commercialise the new technology. The group played an important role in negotiating the terms of the commercial agreement, including the licensing terms," Frontier says. Chief Executive Neil Crabb adds: "It is encouraging to see this technology coming to market with the world's leading producer of cork products."
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Live Co Group PLC - live events and entertainment group - Signs deal to construct 3D model representing a climate change environment with UK Environment Agency. "The model will feature various sites of interest including a river running into the sea, a cycle path next to a river and houses with solar panels and turning wind turbines. It will also be interactive with several moveable parts," Live Co adds.
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Xtract Resources PLC - diversified metals and minerals producer - Says drilling of hole BRDD-21-002, second hole of the phase one programme at Bushranger porphyry copper-gold exploration project, Australia reaches depth of 685 metres. "Chalcopyrite copper mineralisation is observed through much of the lower part of the drill interval, accompanied by pyrite and pyrrhotite in the form of disseminations and fracture-fill. The hole is continuing," Xtract says.
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Seplat Petroleum Development Co PLC - Nigerian oil & gas company - Says ANOH Gas Processing Co secures USD260 million of financing to help fund ANOH Gas Processing Plant. "Following a cost optimisation programme, the AGPC construction cost is now expected to be no more than USD650 million, inclusive of financing costs and taxes, significantly lower than the original projected cost of USD700 million," Seplat adds.
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Trident Royalties PLC - mining royalty and streaming company - Says fourth quarter royalty payments totalled USD291,832, including USD235,092 at Koolyanobbing iron ore, down quarter-on-quarter and USD56,740 at Mimbula copper, up quarter-on-quarter. "The significant progress Trident made during 2020 has meant that it has rapidly positioned itself as a go-to investment vehicle in which investors can gain exposure to an increasingly diversified portfolio of mining royalties," Chief Executive Officer Adam Davidson says. In addition, notes announcement from ASX-listed Calidus Resources Ltd, which has consolidated exploration tenements at Warrawoona gold project. "Trident has a binding agreement to acquire a 1.5% net smelter royalty over the eastern part of the planned Warrawoona mine through tenement E45/3381," Trident adds.
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Canadian Overseas Petroleum Ltd - oil and gas company focused on Sub-Saharan Africa - Says 50%-owned Shoreline CanOverseas Petroleum Development Corp Ltd and Essar Exploration & Production Ltd extend completion date for agreements to April 30. Shoreline and Essar back in August agreed to resolve historical disputes.
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AEX Gold Inc - gold exploration and mine development in Greenland - Lauds "encouraging" results from sampling at Kangerluluk gold asset Greenland.
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Castillo Copper Ltd - Australia and Zambia focused base metal explorer - Calls on ROM Resources to help modelling up a maiden JORC-compliant inferred resource at Big One deposit, Australia. Turns to GeoDiscovery Group to undertake "extensive" geophysical survey. "Based on the evidence to date, the board is increasingly optimistic Big One deposit can be fully developed," Managing Director Simon Paull says.
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Jangada Mines PLC - mineral resource miner focused on Brazil - Says 18%-owned investee ValOre Metals Corp announces CAD3.6 million, about GBP2.1 million, private placing. Part of proceeds to go towards progressing Pedra Branca platinum group metals project in Brazil.
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Blackrock World Mining Trust PLC - invests in mining and metal assets - Says upward revaluation of investment in OZ Minerals Brazil Royalty to USD30.1 million from USD23.6 million. Says results in "an estimated uplift to the net asset value per share of 2.70 pence per share".
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Frenkel Topping Group PLC - financial advisor and wealth manager based in Manchester - Acquires A&M Bacon Ltd, civil and commercial litigation costs specialists, and Partners in Costs Ltd, costs law specialists, for a maximum of GBP9.0 million in total. "The acquisitions are firmly in line with the company's strategy to pursue quality opportunities in, and to drive consolidation of, the pre-settlement professional services marketplace in personal injury and clinical negligence. Both PIC and A&M Bacon are leading specialist cost firms," Frenkel says.
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Baillie Gifford China Growth Trust PLC - aims for long-term capital growth by investing in Chinese companies - Says mulling equity raise "in response to strong demand for the company's shares". Says authority to allot additional 20% of issued shares may alone "not be sufficient to satisfy the continued demand for the company's shares". Company adds: "It is envisaged that an equity raise would help satisfy further market demand and support the company's growth."
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Arrow Global Group PLC - buyer of debt from banks, credit card companies and telecommunications businesses - Prices issue of EUR75.0 million senior secured notes due 2026. Notes have an issue price of 99%. Arrow Global adds: "The proceeds from the transaction of EUR74,250,000 less transaction fees and expenses will be used to partially repay drawings under Arrow Global's GBP285,000,000 multi-currency revolving credit facility."
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Gresham House Energy Storage Fund PLC - London-based utility-scale battery storage fund - Completes purchase of 35 megawatt battery project located in North Shields, Tyne & Wear, UK and a 100 megawatt battery project in Essex, UK. "As we approach our 400MW milestone, we are delighted to acquire the first two projects of the new pipeline we announced along with our GBP120 million fundraise in November. These latest projects boost operational capacity by a further 13%, thereby underpinning dividend cover and representing a further step in our portfolio growth ambitions," Chair John Leggate says.
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Zytronic PLC - manufacturer and developer of touch technology products - Proposes returning GBP10 million to shareholders through tender offer, buying back 6.9 million shares at 145 pence each.
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Avacta Group PLC - Wetherby, England-based pre-clinical stage biotechnology company - Says AffyXell Therapeutics joint-venture with Daewoong Pharmaceutical Co Ltd secures series A veture capital investment amounting to USD7.3 million. Will "further develop its pipeline of next generation cell and gene therapies".
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SkinBioTherapeutics PLC - life science company focused on skin health - Says study size for AxisBiotix-Ps food supplement study increases to 250 from 200 "following high demand for places". Study due to begin by end of February. "I am overwhelmed by the response to the study. We received an extraordinary number of applicants in a very short period of time, the majority of which were psoriasis sufferers," Chief Executive Officer Stuart Ashman says.
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By Eric Cunha; ericcunha@alliancenews.com
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